Using Self Directed IRA
Hello,
I'm sort of a newbie real estate investor. Currently, I own my primary residence and 1 rental property. My goal is to own another 30 rental properties in the next 3-5 years with a monthly net cash flow of $500 and cash on cash return of 15% or greater. Ultimately, I want to replace my current income from my J-O-B and focus on real estate investing full time and other things. My questions are - How can I use my self directed IRA to purchase an investment property? I have about 25k in the SDIRA account, can I at least use it for a downpayment? How about using 401k? I apologize in advance if these questions have been asked before but I'm trying to get a better understanding...
Thanking you in advance.
Best
Michelle